By Benjamin Pimentel
The tech sector posted early gains Wednesday as Xilinx Inc.
soared after the chip maker raised its September sales outlook.
Shares of Xilinx (XLNX) jumped more than 4% in the opening
minutes of trading after the San Jose, Calif.-based company said it
expects sales to rise roughly 10% sequentially. Previously, the
company had expected sales to increase by roughly 2% to 6%
sequentially.
Shares of Palm (PALM) gained more than 3% after the wireless
device maker priced a public offering of 20 million shares at
$16.25 a share.
These gains helped lift the Nasdaq Composite Index (RIXF) by a
fraction to 2,147. The Morgan Stanley High Tech 35 Index (MSH)
gained 0.1%, while the Philadelphia Semiconductor Index (SOX) added
1%.
Major chip makers saw their shares rise, including Intel Corp.
(INTC), Advanced Micro Devices (AMD) and Texas Instruments
(TXN).
Other major tech players also were in positive territory,
including Apple Inc. (AAPL), Google Inc. (GOOG) and Microsoft Corp.
(MSFT)